3i Group invests $179m in Magnitude Software

Wednesday 08 May 2019 | News

We congratulate 3i on the successful acquisition of Magnitude Software. 3i is investing alongside Chris Ney, Chairman and CEO of Magnitude, and other senior executives, who will maintain a significant minority stake in the business. The enterprise value of the transaction is $340m; the value of 3i’s investment is $179m. Magnitude (based in Austin, Texas), provides unified application data management solutions, operating in the US, the Netherlands, UK, Canada and India, and offers a range of software products which enable business users to access, extract and analyse data efficiently. It has strong relationships with leading ERP providers, SAP and Oracle, which gives the company deep insights into their product and technology roadmap. Magnitude has over 1,400 customers across a variety of sectors including manufacturers, retailers and financial services companies and its customer base includes 50% of the Fortune 100.

We are delighted to have supported 3i in this transaction. OC&C is a leading advisor to investors and corporate clients in TMT, with expertise in software, comms and technology where we have advised on landmark recent deals within the broader TMT sectors. OC&C also works extensively with global corporations in this space to develop their strategy and commercial performance.

For more details on this transaction or OC&C's broader experience in this space, please contact Chris Woodland, Turkmen Deniz or Ed Plummer.